Most executives report their operations still aren’t stable—and they won’t reach stability until later this year. But they’re shifting from defense to offense: 49% plan to hire more people this quarter, 37% are investing in front-end customer experiences, and their top priority is boosting sales and revenue.
Executives are grappling with challenging decisions to get back to work: They are split down the middle on requiring employees to take a COVID-19 vaccine—51% lean yes, 49% lean no. And remote work is looking less appealing, with 47% saying their workforces will be on-site most or all of the time when it’s safe to return to work.
Location takes on new meaning: One in four executives are considering picking up their business operations and moving somewhere else. The reasons? Cost of living/talent and taxes. Scroll down to see the most attractive states.
2-MINute TAKEDOWN
In West Monroe’s Quarterly Executive poll, respondents answered tough questions: Should employees be required to take a COVID-19 vaccine? Will remote work really stick around? And how will today’s social and political issues affect business decisions?
Defense to Offense
Back to Work
Location, Location, Location
State of the business
Hiring Plans in Q1
Expect to hire more people
49%
7%
44%
Little to no change
Expect to lay off more people
View data by company size
$250 million–$499 million
$500 million–$999 million
$1 billion–$3 billion
More than $3 billion
Total
Expect to hire more people
Expect to lay off more people
Little to no change
49%
59%
48%
49%
45%
Company size
7%
0%
2%
5%
21%
44%
41%
50%
45%
34%
The largest companies are three times as likely to lay off people in Q1
21%
View Total
When do you expect your company’s operations to stabilize?
What did they say in past quarters?
Q2 2020
Q3 2020
Q4 2020
Q1 2021
Q2 2021
Q3 2021
Q4 2021
2022+
26%
We have it now
3%
23%
35%
Q3 or Q4
13%
2022 or beyond
23%
We have it now
23%
38%
Q2 2021 and beyond
9%
Q3 2020 Answers
7%
By the end
of Q3 2020
Q4 2020 Answers
7%
We have it now
10%
By the end
of Q2 2020
Q2 2020 Answers
24%
26%
2021 and beyond
33%
26%
We have it now
35%
Q3 or Q4
13%
2022 or beyond
3%
23%
Back to Latest Poll DATA Only
What is the primary measure of your business’s health?
Profitability (EBITDA)
48%
Revenue
21%
Customer Retention/Growth
17%
Sales/Pipeline
10%
Employee satisfaction/retention
3%
Uncertainty has lingered longer than expected, affecting execs’ outlook on stabilized operations
Top Priorities in Q1
Boosting sales/revenue
Launching new products/services
Implementing
new technology
16%
13%
33%
1
2
3
View ALL RESULTS
View Top THREE
1
Boosting sales/revenue
33%
2
Launching new products/services
16%
3
Implementing new technology
13%
4
Making an aquisition or divestiture
8%
5
Starting a turnaround/restructure
8%
6
Cutting costs
7%
7
Hiring
7%
8
Inclusion & Diversity initiatives
3%
9
Upskilling my workforce
2%
Workforce Policies & Productivity
Will you require employees to take a COVID-19 vaccine to work on-site?
What is your highest priority this quarter?
Leaning toward
51%
YES
Leaning toward
49%
NO
See how this varies by U.S. region
WATCH
Contract tracing and more
with Work.com
VIEW Totals
WEST
MIDWEST
SOUTH
EAST
55%
45%
YES
No
47%
53%
YES
No
43%
57%
YES
No
59%
41%
YES
No
Employers based on the coasts are more likely to require the vaccine than those in the South and Midwest
How will your organization handle remote work once it’s safe to return on-site?
We will be fully on-site
We will be mostly on-site with some remote work
We will be mostly remote with some on-site work
We are shifting to a fully remote workforce
We will split our workforce beween on-site and remote
9%
38%
43%
9%
1%
READ
A CEO’s perspective on keeping office spaces
See how this varies by employer size
We will be fully on-site
We will be mostly on-site with some remote work
We will split our workforce beween on-site and remote
We will be mostly remote with some on-site work
We are shifting to a fully remote workforce
$250 million–$499 million
Company size
$500 million–$999 million
$1 billion–$3 billion
More than $3 billion
14%
14%
5%
7%
27%
55%
40%
17%
41%
27%
49%
55%
14%
5%
5%
21%
5%
0%
0%
0%
Larger companies are more comfortable taking on remote work when compared with medium-sized companies, which lean toward on-site work
See TOTAL
What is hindering employee productivity the most?
Broadband issues
Increased workload due to attrition at your company
New tech at your company
Other (tell us)
Remote work/working from homes
Responsibility for remote ed/remote learning
Social and societal issues (politics, racism, violence, etc.)
Social distancing requirements/restrictions
5%
27%
9%
6%
34%
19%
10%
45%
READ
Refining your attention amid a world of distractions
See what they said in the past
10%
27%
11%
5%
37%
21%
13%
40%
LEGEND
Q3 2020
Q4 2020
5%
27%
9%
6%
34%
19%
10%
45%
See the latest results
PRIORITIES & IMPERATIVES in 2021
Areas for tech investment in 2021
Data (warehousing, analytics, etc.)
Front-end customer experience/e-commerce
Back-office systems and optimization
Cybersecurity
Delivery-related technology
Communication technology
1
2
4
5
6
(e.g., MRI machines for a hospital)
3
37%
19%
17%
17%
6%
3%
Are you considering moving your business operations?
YES
NO
We already made a major move like this
71%
25%
4%
See which states are getting the most interest
For what reasons?
Florida
#2
Texas
#1
Ohio
#3
Tennessee
#4
Colorado
#5
Of the 25% considering a move...
Cost of talent/living
Taxes
Real Estate
Regulations
39%
21%
16%
8%
Broadband issues
Increased workload due to attrition at your company
New tech at your company
Other (tell us)
Remote work/working from homes
Responsibility for remote ed/remote learning
Social and societal issues (politics, racism, violence, etc.)
Social distancing requirements/restrictions
Back to Totals
BACK TO TOTALS
FOR WHAT REASONS?
See which states are getting the most interest
What role will social, economic, and moral issues play in your organization’s decision-making?
A decreased role
No role at all
An increased role
Their role won’t change
3%
9%
55%
32%
How are you measuring diversity in 2021?
Profile/racial makeup of board and/or company leadership
Profile/racial makeup of entire workforce
Profile/racial makeup of job candidates/applicants
Percentage of minority- and women-owned businesses we do businesses with
Primarily in other ways
27%
65%
33%
19%
9%
We won't measure diversity in 2021
13%
WATCH
How Customer
Needs are Driving Corporate DEI Action
MORE EXECUTIVE POLLS
TALK TO OUR EXPERTS
West Monroe’s Quarterly Executive Poll takes the pulse of 150 C-level executives every quarter. This poll’s data was collected Jan. 5-6, 2021. To qualify for the survey, respondents needed to have a C-level title at a company with at least $250 million in annual revenue.
ABOUT THE POLL
About the poll
About the RESPONDENTS
Manufacturing/Industrial
13%
Healthcare & Life Sciences
23%
Telecommunications
1%
Media/Entertainment
2%
Hospitality/Food Service
4%
Energy & Utilities
4%
Construction/Mining
4%
Information Technology Services
10%
Consumer Packaged Goods/Retail
14%
Aerospace and Defense
1%
Public Administration/Government
1%
Professional Services
5%
Other
7%
11%
Financial Services
18%
Chief Executive Officer or President
20%
Chief Financial Officer
13%
Chief Operating Officer
31%
Chief Information Officer
10%
Chief Marketing Officer
15%
$250 million - $499 million
29%
$500 million - $999 million
37%
$1 billion - $3 billion
19%
More than $3 billion
INDUSTRY
INDUSTRY
TITLE
TITLE
COMPANY'S ANNUAL REVENUE
COMPANY'S
ANNUAL REVENUE
When do you expect your company’s operations to stabilize?
Q2 2020
Q3 2020
Q4 2020
Q1 2021
Q2 2021
Q3 2021
Q4 2021
2022+
23%
We have it now
7%
By the end
of Q3 2020
Q3 2020 Answers
23%
38%
Q2 2021 and beyond
9%
7%
We have it now
10%
By the end
of Q2 2020
Q2 2020 Answers
24%
26%
2021 and beyond
33%
26%
We have it now
35%
Q3 or Q4
13%
2022 or beyond
3%
23%
Q4 2020 Answers
Back to Latest Poll DATA Only
Uncertainty has lingered longer than expected, affecting execs’ outlook on stabilized operations
What did they say in past quarters?
26%
We have it now
35%
Q3 or Q4
13%
2022 or beyond
3%
23%
What is hindering employee productivity the most?
Broadband issues
Increased workload due to attrition at your company
New tech at your company
Other (tell us)
Remote work/working from homes
Responsibility for remote ed/remote learning
Social and societal issues (politics, racism, violence, etc.)
Social distancing requirements/
restrictions
10%
5%
27%
27%
11%
9%
5%
6%
37%
34%
21%
19%
13%
10%
40%
45%
LEGEND
Q3 2020
Q4 2020
See the latest results
Broadband issues
Increased workload due to attrition at your company
New tech at your company
Other (tell us)
Remote work/working from homes
Responsibility for remote ed/remote learning
Social and societal issues (politics, racism, violence, etc.)
Social distancing requirements/
restrictions
5%
27%
9%
6%
34%
19%
10%
45%
See what they said in the past